Moody’s upgrades Emaar to Ba3; affirms firm’s Sukuk rating

Moody’s Investors Service has upgraded Dubai-based property developer Emaar Properties’ corporate family rating to Ba3 from B1, the ratings agency announced in a statement today. The ratings upgrade comes in the wake of improved financial conditions at the region’s largest real estate developer.
Shares of the property giant, listed at the Dubai Financial Market, last traded at Dh2.47 per share today, down 1.2 per cent form yesterday and near their 52-week low of Dh2.35 in a market that has been on a negative trend on weak global sentiment……………………………………….Full Article: Source